DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
Genel Energy has cut capital expenditure to just over $100 million for 2020, while operating expenditure will be reduced by 10% to around $40mn.
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
Norwegian oil firm DNO has been paid £47.8million from the Kurdistan Government for crude oil deliveries from the Tawke license.
North Sea and Middle East-focussed operator DNO has announced a two-thirds increase in production from the Peshkabir field in Iraq.
Genel Energy and DNO ASA confirmed payment for the Kurdistan Regional Government.
The Kurdistan Regional Government (KRG) has paid out for the Shaikan crude oil experts.
DNO said it has completed three new production wells at the flagship Tawke field in the Kurdistan region of Iraq.
The Tawke field partners have been paid, Genel Energy confirmed today.
Genel Energy has confirmed it is buying back $55.4million of bonds with a big chunk taken off their face value.